Doing Business in Toronto

editor July 19, 2016sponsorsComments Off on Doing Business in Toronto488 Views

The largest country in the Western Hemisphere with a sprawling landscape of often unparalleled beauty, Canada is impressive in many senses – but in economic terms it is something of a global powerhouse.

With the Ontarian capital of Toronto as its financial hub, Canada is one of the wealthiest nations in the world and a full member of the OECD (Organization for Economic Co-operation and Development) and the Group of Seven countries – along with the United States, United Kingdom, Germany, France, Italy and Japan – which represent more than 64% of the globe’s net wealth.

Given its relatively small population the country has a remarkable standing in the world’s financial pecking order: its advanced economy is the eleventh largest across the globe, powered by an abundance of natural riches and strong, successful international trade networks, while it has a seat at the table of most of the foremost intergovernmental bodies, including the G20 collection of major economies, NATO and the United Nations. Canada boasts a position amongst the top international measurements of civil liberties, government transparency, economic freedom and education, giving its residents an extremely high quality of life, and it enjoys a rich ethnic diversity and ever-increasing multiculturalism with its population drawn from around the world via significant immigration.

For those seeking to purchase a home in Canada, its real estate is crammed with properties of all shapes and sizes and there is a current boom in trade that has been boosted by many foreign investors injecting money into the market. House valuations are rising rapidly as a result, and records continue to be broken – April 2016 alone saw the average sale price hit half a million dollars, with the month emerging as the busiest for home sales in Canadian history. Large regional variations exist, however, and outside Toronto and Vancouver – the real property hot spots with prices to match – many bargains can be found.

Despite the fact that Canada is a relatively small country population-wise, it is now the eleventh largest advanced economy in the world and a true economic success story. Maximum Venture launched to document this success story by focusing and highlighting those stories small and large which keeps Canada at the top of its game. The website is the latest project from entrepreneur Zoltan Hunt.

If you are looking to work, the service sector is Canada’s biggest employer, with around three quarters of the population engaged in an industry that accounts for nearly eighty percent of the country’s GDP. The retail sector – with its mega malls and shopping centres – dominates the employment landscape, while just behind (but growing rapidly) are the financial, real estate and communications sectors, typically found in the major city centres of Toronto, Montreal and Vancouver. The country has thriving tech and software sectors, as well as a nascent film, TV and entertainment industry that produces and sells various films and shows for viewing both nationally and internationally. If your starting a business, there are many small business accounting services in toronto and it’s pretty easy to find a Toronto small business lawyer too.

Beyond these compelling facts, there are plenty of other sound reasons for people thinking of immigrating to Canada or doing business in the country. The Canadian dollar, for example, is the fifth most held reserve legal tender in the world after the currency behemoths of the U.S. dollar, the Euro, the yen and the United Kingdom’s pound sterling. It accounts for nearly two percent of all global reserves and is extremely popular with the central banks of most other nations due to Canada’s economic dependability, its long-established legal and political systems, and its government’s strong sovereign position.